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A newly married couple joyfully welcomed their first child into their family. Recognizing the risks and responsibilities associated with children, they wanted to be positive they were protected and met with SA Financial Planners to discuss various insurance options. The planners presented basic fundamentals of risk management and cautioned them that without proper insurance coverage, their savings, home and future income could be in danger.
Situation and Outcome
The meeting was very productive. The planners reviewed short and long-term disability provided by the couple’s employers to be certain coverage was sufficient. They stressed the importance of proper coverage to protect them if a long-term disability occurred, which may be financially devastating without ample coverage.
The planners analysed the auto and homeowner’s short-term insurance policies to discern extent of coverage, the existence of replacement cost and amount of deductibles to be sure they were not paying too much. As added protection for their assets, SA Financial Planners coordinated each policy’s liability with a new umbrella liability policy.
Results & Lessons Learned
SA Financial Planners provided objective advice because they are not tied to any particular insurance company. The end result was to obtain proper coverage, help minimise annual costs wherever possible and acquire insurance through high quality companies.
The Moral of the Story: Being properly insured results in peace of mind.